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RBI slashes rates for 5th consecutive time; top 10 takeaways from MPC statement

The monetary policy committee, as expected, cut rates for the fifth consecutive time, but the quantum was below market expectations.

October 04, 2019 / 02:53 PM IST

The Reserve Bank of India’s monetary policy committee, as expected, slashed policy rates for the fifth time in a row on October 4, but the quantum was lower than market expectations.

The Indian rupee and bond prices fell after the RBI announced a cut in repo rates by 25 basis points to 5.15 percent. The Indian market also pared gains, while rate-sensitive stocks turned negative.

But, the big takeaway is that the central bank and the government are in sync on the policy response to revive faltering growth in Asia’s third largest economy.